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70-80% of breakouts have a volume surge on the 30 minute bar

Questions › Category: Questions › 70-80% of breakouts have a volume surge on the 30 minute bar
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28jslo28 asked 5 years ago

Hi Pat. You said during last night’s webinar that 70-80% of successful breakouts have a volume surge on the first 30min candle. I just wanted to make sure I understood your point. Does that mean that, with a stock that looks like it’s breaking out, we should be waiting for the 9:30-to-10:00 candle to print to provide the volume evidence of that high-prob trait? Or is it about getting a few cents above the pivot? Or both?

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Avatar photoOwen Staff answered 5 years ago

Hi Justin,
Video from Patrick:
https://youtu.be/CaW74wgQIYA

emachines99 replied 5 years ago

Hi, just to understand this a little further. Does the volume surge have to occur around our pivot point in order for us to buy? As an example, our pivot point is at 9.50 but the hourly volume comes in at $10, is that to far away?